John Paulson, that Midas of the subprime era, has done it again defying in the process those who said his subprime success was an anomaly. In less than three months, his flagship fund, the Paulson Advantage Fund, has turned a double-digit loss into a double-digit gain. At mid-December, the fund, which was worth $9 billion at the start of the year, was up about 14%, according to one investor in the fund who provided confidential figures on the condition of anonymity. – The NYT
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